The retail landscape is rapidly changing. Founders of online wholesale platform Orderchamp believe that independent stores can differentiate themselves from the masses by creating a curated product offering. However, there remain many inefficiencies with the current wholesale model, making it difficult for brands to find the right sales channels, and for retailers to discover unique products.
Orderchamp aims to enable creators and shop owners from around the world to come together and build upon one another’s success.
The Amsterdam-based online wholesale marketplace, Orderchamp, has raised an undisclosed amount of funding to expand its operations globally through the help of its new investors who are industry experts.
The investors include Stefan van den Berg (former owner and CEO AfterPay), Thomas Plantenga (CEO Vinted), and Zhong Xu (former Lightspeed and current CEO Deliverect). Besides, existing venture capital investor henQ, also participated in this round.
Founded in September 2019, Orderchamp claims to reimagine wholesale by bringing independent retailers and brands together via an online marketplace in order to empower local communities globally.
As of now, the platform has connected over 15,000 retailers and about 1,000 brands in the categories including home & living, fashion accessories, jewelry, beauty & health, stationery, kids & baby and kitchen & dining.
The wholesale marketplace now provides payment terms of 30 to 60 days to its retailers and online merchants, allowing them to order today and pay at a later time. These terms provide the retailer with more financial flexibility and time to sell the products before the invoice is due.
The startup also guarantees the payment to brands upon successful delivery, limiting the debtor risk for the brands. This is enabled by Orderchamp’s technology and algorithms, recommending products to retailers that sell well in their store based on data and purchasing behaviors.
Based on the ordering habits, the type of products, and the turnover rate, Orderchamp determines a spending limit for the retailer before a payment term is offered.
Joost Brugmans, CEO of Orderchamp, says, “With the confidence of our new and existing investors, we offer our retailers some extra firepower in their way to the perfectly curated store. Due to the deferred payments, they can sell the products within the payment term, so that they can invest their budgets in attracting store visitors and online traffic. This is also advantageous for our brands, as it gives them an extra sales boost and removes the default risk of retailers. The new investment round and payment solution enable us to grow even faster in Europe.”
Orderchamp was a finalist in Sprout’s 2020 start-up of the year election and was named one of the 25 most promising start-ups by Quote Magazine.
Image credits: Orderchamp